Gautam Adani's AMG Media Network Limited (AMNL) Takes Control of 50.50% Equity Shares in IANS India Private Limited

Adani Group News: In a strategic move to deepen its presence in the media industry, the Adani Group, led by industrialist Gautam Adani, has further diversified its portfolio by acquiring a majority stake in the esteemed news agency IANS India Private Limited. The financial terms of the deal, however, remain undisclosed. Adani Enterprises officially announced to the stock market that its subsidiary, AMG Media Network Limited (AMNL), has successfully secured 50.50% equity shares of IANS India Pvt.

This development comes on the heels of Adani's entry into the media business in March of the preceding year when it acquired Quintillion Business Media, the operator of the digital media platform BQ Prime. Building on this momentum, in December, AMNL went on to acquire a substantial 65% stake in the well-known broadcaster NDTV.

As per the information shared with the stock exchange, 'AMNL has formalized a shareholders' agreement concerning IANS, inclusive of Sandeep Bamzai, a shareholder of IANS.' Notably, in the financial year 2022-23, IANS reported an income of Rs 11.86 crore. It has been clarified that AMNL will exercise complete operational and management control over IANS, further holding the authority to appoint all directors of the news agency.

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